Channel partners and robotic process automation software vendors are joining forces to take software robot deployments to the next level.
Indeed, a flurry of partnering activity has unfolded in recent weeks among RPA vendors and an array of consulting firms, systems integrators and business-process specialists.
BTerrell Group Blog
Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, is provoking a lot of questions—and for good reason. The update essentially affects all businesses and requires some major updates to reporting and accounting practices. Read on to see if it applies to you, what you need to do, and when you need to make the necessary changes.
WHO is affected?
If you have contracts with customers for the transfer of goods and/or services, even if they are of the non-financial sort, this update will affect your business.
As Business Process Management (BPM) continues to develop, one of the most exciting and high profile aspects of it is that of Robotic Process Automation (RPA). RPA is transforming organisations across all industries, leading experts to believe that it is one of the most transformational tools in current times. In this article we explore the benefits of RPA and why it is so transformational, along with an analysis of where it can be applied within the financial services sector.
To grow their competitive advantage, businesses are now looking to invest in a set of digital technologies which will help them automate repetitive and monotonous tasks and instead focus on their core competencies. Therefore, an area of consideration for them is Robotic process automation (RPA). With intelligent software systems, RPA can help businesses to free up their resources for more strategic initiatives.
Back in 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) released new guidance on recognizing revenues in contracts with customers. Revenue recognition is essential for strong financial management and yet can be challenging for certain types of businesses, such as those managing recurring and deferred revenue.
As indicated in “Why Did The FASB Issue A New Standard On Revenue Recognition?,” posted on FASB.org, the proposal of new revenue recognition guidelines by the FASB and IASB were intended to clarify the reporting of financial statements that include the nature, timing, and uncertainty of revenue generated by certain types of contracts starting in 2018 for public companies and 2019 for private companies.